Bidens next blunder - raise taxes!

[MrSquished]

We should raise taxes on the wealthy and corporations back to Not only the levels before Trump slashed them for the rich but raise them even higher.

All that revenue should go to benefiting urban and suburban areas in a multitude of ways. We should reduce investment in money holes like rural areas where not only are they complete money pits but also have the worst humans in the country.

 

[Jaskalas]

All that revenue should go to benefiting urban and suburban areas in a multitude of ways. We should reduce investment in money holes like rural areas where not only are they complete money pits but also have the worst humans in the country.

So you've gone and stereotyped a large group of people and collectively punished them all for the sins of... well, maybe not a few. But primarily it is their backwards beliefs and voting record you are striking them for. Their biggest crime is not being "your people", they are an "other" and thus guilty of being an "other". Thus they must be altogether abandoned in mass.

But we live in a society. Anyone abandoned to despair and madness can simply purchase a gun and.. well, that's another topic. But a very reoccurring one.

Remember how much fun Pakistan is having with its own tribal and autonomous region? Yeah, not so much fun. Best to avoid any attempts to recreate that here unless you figure we should do a complete split, 1860s style. Even then, you know how the last one ended. Can we prevent one side from murdering the other? Abandonment is how we breed civil strife. Granted, it may feel hopeless as the internet is doing a fine job breeding hate all on its own. Money aside, maintaining the peace is an ever greater challenge. Year by year it is being tested more and more....

When it comes to money, a collective solution is required. One that includes all peoples. Keeps them invested and interested in maintaining law and order. Anyone we leave behind is one 2A away from making headlines you probably don't want. Especially if policy becomes "us vs them" and you become a "them". Bad move, theirs and yours. So let us avoid that future with Basic Income. It requires a substantially greatest investment than you planned, but it can also replace many other programs. It is simple to understand, simple to maintain, and simple for EVERYONE to appreciate. It is not divisive. It is all inclusive and anyone threatening it will not be looked kindly upon by the group as a whole.

All told, Basic Income is a good start. Unlike whatever half baked measures Americans like to cook up for very specific interests at the expense of everyone else.

 

[darkswordsman17]

the OP seems to be one of these idiots that believes you can repeatedly cut taxes and still have a functional government.

I think you're mistaken. The only government they want is whatever might makes right group will push their white christian ethno state via whatever means necessary. They believe they'd be perfectly fine in the capitalist utopia they envision, despite them being unable to handle the corruption they have to deal with now. Which is sad as almost all the right wingers on here are on social security, disability or other social programs where they would literally be left for dead were we in the true libertarian capitalist society they dream about, but they've had their minds poisoned to the point they believe that if it wasn't for the handouts to all the subhumans (basically everyone not them or wealthier white dudes), they would be getting more money.

 

[MrSquished]

So you've gone and stereotyped a large group of people and collectively punished them all for the sins of... well, maybe not a few. But primarily it is their backwards beliefs and voting record you are striking them for. Their biggest crime is not being "your people", they are an "other" and thus guilty of being an "other". Thus they must be altogether abandoned in mass.

But we live in a society. Anyone abandoned to despair and madness can simply purchase a gun and.. well, that's another topic. But a very reoccurring one.

Remember how much fun Pakistan is having with its own tribal and autonomous region? Yeah, not so much fun. Best to avoid any attempts to recreate that here unless you figure we should do a complete split, 1860s style. Even then, you know how the last one ended. Can we prevent one side from murdering the other? Abandonment is how we breed civil strife. Granted, it may feel hopeless as the internet is doing a fine job breeding hate all on its own. Money aside, maintaining the peace is an ever greater challenge. Year by year it is being tested more and more....

When it comes to money, a collective solution is required. One that includes all peoples. Keeps them invested and interested in maintaining law and order. Anyone we leave behind is one 2A away from making headlines you probably don't want. Especially if policy becomes "us vs them" and you become a "them". Bad move, theirs and yours. So let us avoid that future with Basic Income. It requires a substantially greatest investment than you planned, but it can also replace many other programs. It is simple to understand, simple to maintain, and simple for EVERYONE to appreciate. It is not divisive. It is all inclusive and anyone threatening it will not be looked kindly upon by the group as a whole.

All told, Basic Income is a good start. Unlike whatever half baked measures Americans like to cook up for very specific interests at the expense of everyone else.

I'm just trying to see if Republicans are consistent. They don't want to waste tax payer money so let's do it their way. Let's invest in people and areas that give back to the coffers of the country and not waste it on money pits.

Just trying to speak a language they can understand and to meet them in the middle. They want no tax increases on the super rich because they consider it frivolous spending. So let's cut out spending on areas that take more than they give. Let's focus on the profitable urban and suburban areas and meet them in the middle. They should be happy with this compromise

 

[Fenixgoon]

Sure, there are some downsides when you give tax cuts across the board. Not all money will be reinvested into new jobs per se, but spent on stupid things like stock buybacks, another yacht for an American oligarch like Bezos and idiots on Youtube who buy Lamborghinis and trash them to get more views because they are making millions of dollars in Adsense revenue. Plus, that Lambo is 100% deductible as a show production expense!

Being that most of the largest companies are publicly owned, their resulting rise in market capitalization after the passage of the 2017 tax cut resulted in a the stock market nearly quadrupling (ie the Nasdaq 100 QQQ index went from the low 100s to over 400 in just 4 years).

Granted some of that astonishing gain in the market was due to the excessive and wasteful 15 trillion dollars in government spending passed by both Republicans and Democrats over Trumps and Bidens admins in just 2 years on "covid relief", "infrastructure" and one dumb stimulus package after another. Then comes the Fed with its stupid and ill advised purchase of 9 trillion dollars of that debt to suppress market rates (Quantitative Easing).

You dont want to kill the golden job creating goose to eat a meal for just one day when all you need is its eggs.

No, what we need is for the government to stop spending so much money and keep the current tax regime in place.

The top 10% own 90% of the stocks. So the vast majority of americans see 0 benefit to any increased valuation of publicly traded entities.

let's take the covid pandemic as an example. a time of massive social and economic upheaval not due to any specific government policy.
the wealth of the wealthiest increased across the globe - by 50%!
meanwhile, the incomes of 99% of humanity plummeted in the same time period.

So if you're truly concerned about "middle america" - which by definition is the 50th percentile - then you need tax the rich (individuals and corporations)

 

[Pohemi]

But primarily it is their backwards beliefs and voting record you are striking them for.

Uhh...duh? What do you think the point of his commentary was? The comments might be stereotyping, but they aren't based on some myths and fantasy. It's pretty well-established who these people are, and how they tend to vote.

Unlike whatever half baked measures Americans like to cook up for very specific interests at the expense of everyone else.

Half-baked (and intentionally damaging) measures such as trickle-down economics, and lowering taxes on corporations and ultra-wealthy? Yep, I agree.

 

[FelixDeCat]

The top 10% own 90% of the stocks. So the vast majority of americans see 0 benefit to any increased valuation of publicly traded entities.

let's take the covid pandemic as an example. a time of massive social and economic upheaval not due to any specific government policy.
the wealth of the wealthiest increased across the globe - by 50%!
meanwhile, the incomes of 99% of humanity plummeted in the same time period.

So if you're truly concerned about "middle america" - which by definition is the 50th percentile - then you need tax the rich (individuals and corporations)

Hogwash. The majority of Americans participate in private retirement plans like 401ks, etc, that hold equity in stocks and bonds.

Also the highest earners pay the majority of taxes and they should be allowed to keep at least half or more of what they earn.

To be honest it's the middle class that doesn't carry its weight.

But all the blame is on government which stop deficit spending.

 

[FelixDeCat]

Uhh...duh? What do you think the point of his commentary was? The comments might be stereotyping, but they aren't based on some myths and fantasy. It's pretty well-established who these people are, and how they tend to vote.

Half-baked (and intentionally damaging) measures such as trickle-down economics, and lowering taxes on corporations and ultra-wealthy? Yep, I agree.

He is correct. Tribalism is no longer fashionable.

 

[fskimospy]

Hogwash. The majority of Americans participate in private retirement plans like 401ks, etc, that hold equity in stocks and bonds.

Also the highest earners pay the majority of taxes and they should be allowed to keep at least half or more of what they earn.

To be honest it's the middle class that doesn't carry its weight.

But all the blame is on government which stop deficit spending.

This is not really true. When you look at total tax burden the people at the very top pay a little more of the share of taxes than their share of national income and vice versa with the people at the bottom.

The basic way conservatives try and get around this uncomfortable fact is they demand we only count FEDERAL INCOME TAX instead of counting all taxes people pay. Federal income tax is highly progressive but most state and local taxes are highly regressive, so it all ends up balancing out.

Armed with this information are you willing to revise your position?

 

[Pens1566]

Hogwash. The majority of Americans participate in private retirement plans like 401ks, etc, that hold equity in stocks and bonds.

Also the highest earners pay the majority of taxes and they should be allowed to keep at least half or more of what they earn.

To be honest it's the middle class that doesn't carry its weight.

But all the blame is on government which stop deficit spending.

It's something like 50% that participate, but the avg balance is in low 5 figures. Which is dwarfed by the immense portfolios of the uber wealthy. In fact, the original claim of "10% own 90%" might be wrong in the other direction. It's likely closer to 1% owning the 90%.

 

[MrSquished]

It's something like 50% that participate, but the avg balance is in low 5 figures. Which is dwarfed by the immense portfolios of the uber wealthy. In fact, the original claim of "10% own 90%" might be wrong in the other direction. It's likely closer to 1% owning the 90%.

I can't remember a time when Felix ever met a fact he couldn't disagree with and dismiss with a wave if it countered his position. The guy is a waste of oxygen.

 

[Fenixgoon]

Hogwash. The majority of Americans participate in private retirement plans like 401ks, etc, that hold equity in stocks and bonds.

Also the highest earners pay the majority of taxes and they should be allowed to keep at least half or more of what they earn.

To be honest it's the middle class that doesn't carry its weight.

But all the blame is on government which stop deficit spending.

Oh look, facts!

The wealthiest 10% of Americans own a record 89% of all U.S. stocks

The top 1% gained over $6.5 trillion in corporate equities and mutual fund wealth during the pandemic, according to the latest data from the Federal Reserve.

www.cnbc.com

When you get paid subsistence wages, there's little if any.money leftover to invest.

Why should the highest earners get to keep half? You realize half of a billion dollars is 500M, which is still infinitely more than the average American could possibly dream about?
Do you understand how progressive, marginal taxation works?

 

[iRONic]

To be honest it's the middle class that doesn't carry its weight.

What the actual fuck drugs are you on?!?!

 

[HomerJS]

Hogwash. The majority of Americans participate in private retirement plans like 401ks, etc, that hold equity in stocks and bonds.

Also the highest earners pay the majority of taxes and they should be allowed to keep at least half or more of what they earn.

To be honest it's the middle class that doesn't carry its weight.

But all the blame is on government which stop deficit spending.

How that hell can you regurgitate that when people like Warren Buffet pay a lower tax rate then his secretary? His words not mine.

 

[APU_Fusion]

Mark Twain once said, "Never argue with stupid people, they will drag you down to their level and then beat you with experience." Felix is 🤡

 

[IronWing]

Hogwash. The majority of Americans participate in private retirement plans like 401ks, etc, that hold equity in stocks and bonds.

Also the highest earners pay the majority of taxes and they should be allowed to keep at least half or more of what they earn.

To be honest it's the middle class that doesn't carry its weight.

But all the blame is on government which stop deficit spending.

Seems relevant.

 

[MrSquished]

Seems relevant.

Love that game. And that's about the only thing left to say about him and the millions of people like him.

 

[Amol S.]

But all the blame is on government which stop deficit spending.

whhutttttt?
"But all the blame is on government." <--Normal statement from a R Conservative
"which stop deficit spending"<--- How does this even make sense? R Conservatives are saying the government is still doing deficit spending.

 

[Amol S.]

https://finance.yahoo.com/news/tax-rich-biden-end-trumps-140036916.html

We dont have a tax problem, we have a spending problem. Cut back on profligate federal spending by 10% across the board and that will be a start.

Joe's idea? Raise taxes so we can spend even more! Anytime you hear a democrat throw around the word "invest" - run for the hills!

@FelixDeCat .... here is a question I want to ask you. Bush decreased taxes and decreased infrustrcture spending. Guess what happened on August 1st, 2007 on I-35W .

35wBridgecollapse
U.S. Army Corps of Enginners. Gif animation by The lorax at en.wikipedia

Later versions were uploaded by Anetode at en.wikipedia., Public domain, via Wikimedia Commons

13 people lost their lives, 145 were injured.

Does this change your perspective on why the federal government needs to spend on infrastructure?

 

[MrSquished]

Why do people think taking to consistently horrific trash who didn't meet a fact they didn't like will change their minds about anything.

This is the time to realize who the enemies are. Cause they only get worse, not better. You can't win a war of you are still trying to understand an already understandable enemy.

 

[Vic]

whhutttttt?
"But all the blame is on government." "which stop deficit spending"

Once you realize that right wing arguments are generally contradictory to the point of absurdity, it starts to make sense.
Felix does not give the slightest rip if any one of the posters here in this thread were taxed into bankruptcy. It's not taxes or the deficit that concern him but who gets taxed and who gets the govt benefits. Which is why he's here shilling for the masters who (mentally) own him.

 

[FelixDeCat]

whhutttttt?
"But all the blame is on government." <--Normal statement from a R Conservative
"which stop deficit spending"<--- How does this even make sense? R Conservatives are saying the government is still doing deficit spending.

I was in between things when I wrote that - a word was missing - "which will not stop deficit spending".

 

[FelixDeCat]

@FelixDeCat .... here is a question I want to ask you. Bush decreased taxes and decreased infrustrcture spending. Guess what happened on August 1st, 2007 on I-35W .


Does this change your perspective on why the federal government needs to spend on infrastructure?

You do realize both R and D admins have spend trillions on "infrastructure" spending some of which is wisely spend but also lots of which is simply wasted on big salaries and excessive margins because the government was just doing this:



Remember Obama's "shovel ready" spending stimulus/infrastructure/pork barrel plan from about a decade ago? Why didnt that fix everything? Surely that was enough money to get the job done for decades...no?

No.

It was just more pork barrel spending, using borrowed money will still have not paid back.

 

[Pohemi]

pork barrel pork barrel pork barrel tan suit

 

[FelixDeCat]

How that hell can you regurgitate that when people like Warren Buffet pay a lower tax rate then his secretary? His words not mine.

He was speaking about the way he earns a living, and it is completely acceptable for a reason:

He gets paid by long term capital gains which are taxed at a lower rate than plain W2 income. Had he been paid solely in W2 wages his tax rate would be higher than the secretary's rate.

That is part of the reason lots of CEOs are paid $1 per year in salary while earning millions in stock options.....so long as they deliver performance for shareholders in stock price appreciation.

While I do think that there should probably be cap on the amount you can make via stock options at a favorable tax rate ($10M?), it is better for everyone vs simply paying them $10,000,000 a year no matter how the company does.